I have seen suggestions that the 1099s are reported by one and/or the other, then expensed by one to the other in proportion to the ownership share, but it's not clear exactly where the expense would be shown in TT or on Schedule C, or where the income would be captured on the other spouse's Schedule C. (I.e., we are each filing a separate Schedule C, and need to divide the income from the 1099s between them).
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The key is to not report the 1099-MISC as a form. The IRS does not care if you specifically reference a 1099. They just want you to report the income. As long as you report enough income to cover all 1099s, then you're fine.
So, complete two Schedule Cs, and enter the income split 50/50. You do the same thing with your expenses.
Here's how to report your income without a 1099 entry:
The key is to not report the 1099-MISC as a form. The IRS does not care if you specifically reference a 1099. They just want you to report the income. As long as you report enough income to cover all 1099s, then you're fine.
So, complete two Schedule Cs, and enter the income split 50/50. You do the same thing with your expenses.
Here's how to report your income without a 1099 entry:
Complete one SchC for you and one for your wife. That way each of you will get credit for social security contribution.
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